Analysis of cutting-edge securities industry issues
OCIE is intending to review newly registered hedge and private equity fund advisers by focusing in on certain priorities.
In particular, OCIE will review due diligence practices; fraud indicators; unknown service providers; problem…
Continue Reading OCIE’S PLAN TO REGULATE PRIVATE FUND ADVISORS
In response to the Supreme Court’s decision in Morrison v. National Australia Bank where the Supreme Court said that there was no private right of action for lawsuits that involved…
Continue Reading SEC’S POSITION ON PRIVATE SUITS AFTER MORRISON
The United States District Court for the District of Massachusetts, recently, ruled that a FINRA Arbitrator must consider any counterclaims in an action brought against Trustees of a profit sharing…
Recently, the SEC’s newest commissioner, Commissioner Daniel Gallagher, discussed certain of his beliefs, including, among other things, that the SEC should use its exemptive authority derived from the Investment Advisers Act of 1940, to provide…
Continue Reading SEC COMMISSIONER GALLAGHER DISCUSSES CRITICAL ISSUES
Recently, SEC Chairman, Mary Shapiro, was called to task for the high number of reported administrative proceedings by Congress. In particular, the SEC was accused of reporting follow on administrative…
We previously blogged on the Argentina bond case. See https://securitiescompliancesentinel.foxrothschild.com/securities-class-actions/argentinean-bond-dispute-has-gotten-hot/index.html. Now, to update our readers, the United States District Court for the Southern District of New York has vacated…
According to an internal SEC guidance report, the SEC is taking to heart the criticism that it does not employ enough of an economic analysis in its rule-making process. The…
Continue Reading The SEC Is To Employ Cost-Benefit Analysis For Its Rule-Making
The 11th Circuit Court of Appeals recently vacated a FINRA arbitration panel arbitration award because the panel had failed to decide if the securities firm had waived its right…
The new SEC Rule 13h-1, the large trader reporting rule, became effective.
Starting on April 30, 2012, broker dealers will be required to maintain records of large trader trading, similar to records maintained…
Continue Reading The SEC’s Large Trader Reporting Rule Is Now On-Line
The Co-Chief of the SEC’s Asset Management Enforcement Unit, recently, informed the public that the Staff will be paying particular attention to private equity firms.
The SEC Staff will be using…
Continue Reading Enforcement Division Announces Private Equity Firm Initiative
